KBA

KraneShares Bosera MSCI China A Share ETF

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Investment Strategy:

KBA is benchmarked to the MSCI China A Index which captures large and mid-cap representation across China securities listed on the Shanghai and Shenzhen exchanges (A-shares). Over the coming years, MSCI will complete the incremental inclusion of China A-shares into their Global Standard Indexes, including the MSCI Emerging Markets Index, which may potentially benefit the securities KBA holds today. The MSCI China A Index is designed for global investors accessing the A-share market using the Stock Connect framework and is calculated using China A Stock Connect listings based on the offshore RMB exchange rate (CNH).

KBA features:

  • Access to the Shanghai and Shenzhen Stock Exchanges - historically unavailable to U.S. investors - via Stock Connect Programs.
  • KBA's benchmark, The MSCI China A Index, reflects a 20% inclusion factor for China A large-cap, mid-cap, and eligible ChiNext shares within the MSCI Emerging Markets Index.
  • With over $1.8 trillion1 benchmarked to the MSCI Emerging Markets Index, full inclusion of Mainland Chinese equities could see significant flows into the securities KBA owns today.
  • Co-managed by Bosera Asset Management; headquartered in Shenzhen, over $151 billion in AUM, one of the largest Chinese asset managers by assets.2

1.) As of June 30, 2018, as reported on September 30, 2018 by eVestment, Morningstar and Bloomberg. Retrieved 3/31/2020.

2.) Bosera data is from bosera.com as of 12/31/2019, retrieved on 3/31/2020.

Fund Details

Data as of 07/27/2021
TickerKBA
Primary ExchangeNYSE
CUSIP500767405
ISINUS5007674055
Net Assets$784,379,978
Total Annual Fund Operating Expense (Gross)0.79%
Total Annual Fund Operating Expense (Net)0.59%*
Inception Date3/4/2014
Distribution FrequencyAnnual

Daily Performance

Data as of 07/27/2021
Premium Discount Chart
NAV
Net Asset Value$43.82 
Daily Change-3.97%
Price
Market Price$43.22 
Daily Change-4.59%
30 Day Median Bid/Ask Spread
Value0.09%

The ETF’s 30 Day Median Bid-Ask Spread is calculated by identifying the ETF’s national best bid and national best offer ("NBBO") as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage rounded to the nearest hundredth.

Performance History

Distributions
Cumulative %
Data as of: 06/30/2021
Fund NAVClosing PriceIndex
1 Month-1.09%-1.91%-1.45%
3 Month9.30%8.14%9.19%
6 Month4.39%4.25%4.62%
Since Inception131.37%130.81%148.16%
Avg Annualized %
Data as of quarter end: 06/30/2021
Fund NAVClosing PriceIndex
1 Year41.80%41.86%42.61%
3 Year19.28%19.33%20.02%
5 Year13.59%13.56%13.05%
Since Inception12.14% 12.10%13.20%
Growth of $10,000
Data as of 07/27/2021

*Pursuant to the terms of an Expense Limitation Agreement, Krane Funds Advisors, LLC (“Krane”), the Fund’s investment manager, has contractually agreed to reduce its management fee to 0.58% of the Fund’s average daily net assets until August 1, 2021. The Expense Limitation Agreement may only be terminated prior to August 1, 2020 by the Board.

The Hybrid KBA Index consists of the MSCI China A Index from the inception of the Fund through October 23, 2014, the MSCI China A International Index from October 23, 2014 through December 26, 2017 and the MSCI China A Inclusion Index from December 26, 2017 to May 29, 2019 and the MSCI China A Index going forward.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted.

The Growth of $10,000 chart reflects an initial investment of $10,000 on the day prior to the selected time period and assumes reinvestment of dividends and capital gains. For the growth of $10,000 chart since inception, the initial investment of $10,000 is instead made on the inception date of the Fund. Fund expenses, including management fees and other expenses were deducted. The growth of a $10,000 investment in the fund is hypothetical and for illustration purposes only.

Top 10 Holdings

Data as of 07/27/2021
Full Holdings .CSV
RankCompany Name% of Net AssetsTickerIdentifierShares HeldMarket Value($)
1KWEICHOW MOUTAI CO LTD-A5.33%600519CNE0000018R8154,98940,724,213
2CONTEMPORARY A-A2.85%300750CNE100003662287,23321,810,312
3CHINESE YUAN RENMINBI2.69%134,031,87520,560,347
4CHINA MERCHANTS BANK-A2.35%600036CNE000001B332,541,10117,997,167
5WULIANGYE YIBIN CO LTD-A2.22%000858CNE000000VQ8478,77916,976,624
6PING AN INSURA-A1.41%601318CNE000001R841,335,63410,791,284
7CHINA TOURISM-A1.23%601888CNE100000G29240,7039,378,590
8SHENZHEN MINDR-A1.18%300760CNE100003G67150,0519,013,027
9LONGI GREEN EN-A1.09%601012CNE100001FR6651,1598,359,551
10BYD CO LTD -A1.07%002594CNE100001526223,5098,184,421

Holdings are subject to change.